The recent acquisition of Twitter, now known as X, by Elon Musk has raised concerns about the allocation of resources for largely inactive accounts related to his other company, Tesla. This situation has sparked discussions regarding the financial impact on Tesla, potentially costing the automaker up to $20,000 per year.
on twitter (X) @sawyermerrit twitter that Tesla generates $20,000 of revenue every 6.3 seconds and you’re focused on the company spending $20k/year on something? Ok lol as per the Carscoops
While having multiple accounts on social media platforms is common practice, the issue arises from the combination of the subscription costs and the lack of activity on these accounts. Musk introduced X Premium and the “Verified Organizations” subscription services as a response to controversies on Twitter. These subscriptions offer enhanced visibility and verification through blue checkmarks. Regular users pay $8 per month, while businesses are charged $1,000 per month. Additional fees of $50 per month apply for affiliated accounts. Tesla reportedly has numerous affiliated accounts, likely leading to a monthly expense of around $1,650 or an annual cost of $20,000 on X, a platform owned by the same individual who owns Tesla.
Although the financial impact might be considered relatively insignificant for Tesla and Elon Musk, the concern arises from the apparent wastefulness of these expenditures. Some of these accounts, such as @Tesla_Optimus, have only posted once since their creation in January, which raises questions about the value and purpose of maintaining such accounts.
Furthermore, Tesla seems to be footing the bill for accounts belonging to its executives, including Franz von Holzhausen, the head of design, Drew Baglino, the head of powertrains, and Tom Zhu, the VP of automotive. These executives have shown minimal activity on X, indicating a potential misuse of company funds.
Beyond the financial implications, this situation draws attention to Musk’s involvement in the purchase of Twitter and the notion that he influenced the decision to sell the platform to him against the company’s initial intentions. This type of perceived wastefulness and influence could impact investor sentiment, as it goes against responsible resource management.
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In conclusion, the presence of largely inactive accounts related to Tesla on Elon Musk’s X social media platform has sparked discussions about the financial consequences and ethical considerations of such expenditures. The scenario highlights the importance of prudent resource allocation and responsible decision-making, particularly when it involves high-profile figures and their business ventures.